Big Oil majors have been scrambling to make the most ambitious climate commitments in the industry, planning a pivot to clean energy, talking about net-zero emission bills, solar, and wind. However, there is another clean energy source that has remained out of the spotlight–one that may eventually rise to prominence: geothermal.
Geothermal energy is, simply put, the heat from the Earth’s mantle brought to the surface to use for heating and, more importantly, electricity generation. Iceland is the usual example of successfully harnessing geothermal energy. Iceland, however, is not the only place where geothermal can be tapped. In fact, it’s everywhere. You just need to know exactly where and how to drill for it.
Yes, the keyword here is drilling and extraction: the same thing oil and gas companies do. It should come as no wonder then, that a number of oil and gas industry veterans have decided to go down the clean energy road with geothermal projects. And according to them, geothermal is the future of the energy industry, along with solar and wind.